UWM’s (UWMC) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of UWM (NYSE:UWMC) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $6.50 price objective on the stock.

Several other research analysts have also recently weighed in on UWMC. Keefe, Bruyette & Woods raised UWM from a “market perform” rating to an “outperform” rating and raised their target price for the company from $6.50 to $7.50 in a research note on Monday. Morgan Stanley reduced their price objective on shares of UWM from $7.50 to $6.50 and set an “equal weight” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group reduced their target price on shares of UWM from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.25.

UWM Price Performance

Shares of UWMC opened at $6.58 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $10.52 billion, a P/E ratio of -28.61 and a beta of 1.66. UWM has a 12 month low of $5.31 and a 12 month high of $9.74. The stock has a fifty day moving average price of $6.09 and a 200 day moving average price of $6.94.

UWM (NYSE:UWMC) last posted its earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $560.21 million for the quarter, compared to analysts’ expectations of $645.75 million. On average, research analysts forecast that UWM will post 0.2 earnings per share for the current year.

UWM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.40 annualized dividend and a dividend yield of 6.08%. UWM’s dividend payout ratio (DPR) is presently 500.00%.

Hedge Funds Weigh In On UWM

Several institutional investors have recently added to or reduced their stakes in UWMC. Connor Clark & Lunn Investment Management Ltd. raised its position in UWM by 56.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 415,656 shares of the company’s stock worth $3,541,000 after purchasing an additional 149,216 shares during the last quarter. Carrera Capital Advisors bought a new stake in shares of UWM during the third quarter worth $1,727,000. Point72 Asset Management L.P. bought a new stake in UWM during the 3rd quarter worth about $1,065,000. Geode Capital Management LLC raised its holdings in UWM by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company’s stock worth $13,183,000 after purchasing an additional 41,206 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in UWM by 446.3% during the 3rd quarter. Verition Fund Management LLC now owns 159,666 shares of the company’s stock worth $1,360,000 after purchasing an additional 130,439 shares during the last quarter. 53.59% of the stock is owned by institutional investors.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.